NEW DELHI: Betting big on the growing mobile handset market, IT hardware and electronic products company Intex Technologies is looking to double turnover to Rs 2,000 crore in the current financial year.
“We are targeting Rs 2,000 crore revenue for Intex Technologies, of which we are expecting Rs 1,200 crore from the mobile division,” Intex Technologies GM – mobile business, Sanjay Kumar told PTI.
The company clocked a turnover of Rs 1,069 crore in financial year 2012-13.
Asked if it will be able to achieve the target given the presence of so many manufacturers in the handset market, Kumar said the company has grown from selling 1.5 lakh handsets in April last year to 6 lakh devices last month.
“With the base we have already developed in last one year, Rs 1,200 crore is not a very big task for us… We are growing around 20% per month.”
The company crossed Rs 90 crore revenue last month from the mobile division and aims to sell 10 lakh devices every month from June onwards.
The company recently roped in Bollywood actor-director Farhan Akhtar as brand ambassador for its smartphones.
It entered the smartphone market 7-8 months back and has a portfolio of around 12 models in the price range of Rs 3,200 to Rs 11,000.
“In next six months, we would launch 8-10 smartphone models in the same bracket,” Kumar added.
According to research firm IDC, the overall mobile phone market in India reached about 218 million units in 2012, growing 16 per cent year-on-year. Of this, 16.3 million units were smartphones, but the category saw a growth of about 48%.
The demand for smartphones is expected to be around 34-36 million units this year.
Intex has a network of 800 distributors and 20,000 retailers.
Kumar said the company is increasing dealer strength on two fronts — one, establishing base where it doesn’t have presence and secondly, expanding channel partners for smartphones.
The company is also planning to start assembling mobile phones in India in next 3-4 months.
Right now the three manufacturing units of the company are used for the rollout of IT products and mobile accessories.
Source-Times of iindia
